Raymond James Financial Services Advisors Inc. Has $621,000 Holdings in Old National Bancorp (NASDAQ:ONB)

Raymond James Financial Services Advisors Inc. lifted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 28.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,742 shares of the bank’s stock after buying an additional 8,099 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Old National Bancorp were worth $621,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. OneAscent Financial Services LLC acquired a new position in shares of Old National Bancorp during the fourth quarter worth $620,000. Ziegler Capital Management LLC increased its holdings in Old National Bancorp by 2.3% in the fourth quarter. Ziegler Capital Management LLC now owns 61,245 shares of the bank’s stock valued at $1,034,000 after purchasing an additional 1,361 shares during the period. Legacy Wealth Asset Management LLC acquired a new stake in Old National Bancorp in the fourth quarter valued at $181,000. First Hawaiian Bank increased its holdings in Old National Bancorp by 9.1% in the fourth quarter. First Hawaiian Bank now owns 38,542 shares of the bank’s stock valued at $651,000 after purchasing an additional 3,230 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Old National Bancorp by 93.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 99,804 shares of the bank’s stock valued at $1,451,000 after purchasing an additional 48,239 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on ONB shares. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Stephens decreased their price objective on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. UBS Group decreased their price target on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $20.00 price target on shares of Old National Bancorp in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price target on shares of Old National Bancorp in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and an average price target of $18.71.

Old National Bancorp Price Performance

ONB stock opened at $15.53 on Thursday. The stock has a market capitalization of $4.56 billion, a PE ratio of 8.01 and a beta of 0.83. The company’s 50-day moving average is $16.44 and its 200-day moving average is $15.84. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a 1 year low of $11.66 and a 1 year high of $17.64.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $689.85 million for the quarter, compared to the consensus estimate of $448.87 million. Old National Bancorp had a return on equity of 12.04% and a net margin of 22.91%. During the same period last year, the company earned $0.56 EPS. Equities research analysts expect that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 annualized dividend and a yield of 3.61%. Old National Bancorp’s payout ratio is 28.87%.

About Old National Bancorp

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.